Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.34 and traded as high as $26.64. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $26.27, with a volume of 67,135 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has an average rating of “Hold” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. The company has a 50-day moving average of $28.79 and a 200 day moving average of $26.34. The firm has a market cap of $1.19 billion, a P/E ratio of 6.28 and a beta of 1.77.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. The business had revenue of $536.96 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.82% and a return on equity of 11.33%. On average, sell-side analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock valued at $31,000 after buying an additional 367 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 556 shares during the period. Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at about $320,000. Millennium Management LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at about $366,000. Finally, Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth about $455,000. Institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.

Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.